Small business COVID 19 bailout money went to China

[44nutman]

https://www.nytimes.com/2020/08/02/us/politics/virus-china-ppp-small-business-loans.html

The 2008 bailout money was riddled with fraud and when it all finally comes out about this bailout, we will see it will be filled with fraud as well.
There were companies with no employees getting money, everyone that rents in one of Trump's or Jared's buildings got money.
There is a reason we are 26.5 trillion in debt. Every time we bail out corporations, who don't own boot straps there is kick backs of my tax dollars to damn near everyone but the ones that need it.

 

[Big Nasty Edison]

With how many US companies have their goods manufactured in China we may as well have shipped them our tax dollars.

 

[tonni]

I thought you libs loved China???

 

[DespicablePeep]

90s shipping off most manufacturing to Asia was stupid.

 

[44nutman]

I thought you libs loved China???

Don't confuse the fact I think Trump is a con man that is lining his pockets with my tax dollars to pay off his Deustche Bank Loans, with being a LIb.
Been on record on this site I liked that Trump wanted to go after China, but like most things he fucked it up. He should have got all our Allies to go at China in a united front but he pissed off of most of our traditional allies, and now Prime Ministers of foreign countries are caught on tape making fun of Donny being a dum dum.

 

[The Stoat]

If true, this just shows why the healthy should have been working as usual instead of quarantining at home and shutting down economies. Govt programs and assistance always gets abused.

 

[ShinkanPo]

I thought you libs loved China???

You Racist

 

[tonni]

Don't confuse the fact I think Trump is a con man that is lining his pockets with my tax dollars to pay off his Deustche Bank Loans, with being a LIb.
Been on record on this site I liked that Trump wanted to go after China, but like most things he fucked it up. He should have got all our Allies to go at China in a united front but he pissed off of most of our traditional allies, and now Prime Ministers of foreign countries are caught on tape making fun of Donny being a dum dum.

 

[PainIsLIfe]

https://www.nytimes.com/2020/08/02/us/politics/virus-china-ppp-small-business-loans.html

The 2008 bailout money was riddled with fraud and when it all finally comes out about this bailout, we will see it will be filled with fraud as well.
There were companies with no employees getting money, everyone that rents in one of Trump's or Jared's buildings got money.
There is a reason we are 26.5 trillion in debt. Every time we bail out corporations, who don't own boot straps there is kick backs of my tax dollars to damn near everyone but the ones that need it.

Without reading the entire article, I think you missed the biggest part of the story:

According to a review of publicly available loan data by the strategy consulting firm Horizon Advisory, $192 million to $419 million has gone to more than 125 companies that Chinese entities own or invest in.

The report acknowledges that the participation of these companies in the lending program most likely saved an unspecified number of jobs based in the United States,
​

And obligatory, you liberals pay taxes?

 

[TheOneAboveAll3]

I thought you libs loved China???

Seems like Trump and republicans do but they try to give the look to the media that they are hard on them.

 

[TheOneAboveAll3]

Without reading the entire article, I think you missed the biggest part of the story:

According to a review of publicly available loan data by the strategy consulting firm Horizon Advisory, $192 million to $419 million has gone to more than 125 companies that Chinese entities own or invest in.

The report acknowledges that the participation of these companies in the lending program most likely saved an unspecified number of jobs based in the United States,
​

And obligatory, you liberals pay taxes?

Most of those companies though didnt need the money and could have gone on using their own money just like wealthy companies owned by Kanye, Jared, senators and other wealthy individuals or companies. They took advantage of this free cash grab thanks to Trump and his republican buddies. No oversight and having no limits on the wealthy qualifying for the PPP sure did help american citizens right? Be more in debt that is.

 

[all caps]

Yall begged for the shut down knowing what was gonna happen. Stop whining.

 

[PainIsLIfe]

Most of those companies though didnt need the money and could have gone on using their own money just like wealthy companies owned by Kanye, Jared, senators and other wealthy individuals or companies. They took advantage of this free cash grab thanks to Trump and his republican buddies. No oversight and having no limits on the wealthy qualifying for the PPP sure did help american citizens right? Be more in debt that is.

Of course they did; it's called smart business and as much as you want to blame Trump it was both Dems and Rs that wrote the bill.

It's the same thing as my kids don't need loans to pay for college, but we'll take a subsidized interest free loan for 4 years and use their college funds to draw interest.

 

[Seano]

There were companies with no employees getting money, everyone that rents in one of Trump's or Jared's buildings got money..

Why shouldn't a business in a building Trump owns get help too? Does Trump own the business or just the place they operate from?

 

[TheOneAboveAll3]

Of course they did; it's called smart business and as much as you want to blame Trump it was both Dems and Rs that wrote the bill.

It's the same thing as my kids don't need loans to pay for college, but we'll take a subsidized interest free loan for 4 years and use their college funds to draw interest.

No they didnt, like you said you its the same as your kids not needing a loan but will take it cause it makes financial sense. Same with the wealthy individuals and companies that took it. They just took advantage of the program of getting free money.

 

[Grant Me Revenge]

This whole pandemic should be a wake up call that goods need to be produced locally in a more environmentally sustainable way. Unsanitary factory farming needs to go the way of the dodo, if not for the sake of the animals then at the very least for the sake of the environment and the workers forced to labour in unsanitary conditions.

 

[panamaican]

I heard that too and it underscores the bigger issue surrounding the bailout. Time and time again, Congress operates in the best of interest of national and international businesses that can handle these situations on their own. Meanwhile, they continue ignoring the small businesses and the micro-businesses with a local footprint. Unfortunately, with what we know about lobbying and the proverbial squeaky wheel, I have no idea what the fix is, money talks.

 

[PainIsLIfe]

No they didnt, like you said you its the same as your kids not needing a loan but will take it cause it makes financial sense. Same with the wealthy individuals and companies that took it. They just took advantage of the program of getting free money.

I'm sorry they didn't what?

Are you saying that both parties didn't write the bill or are you claiming the companies didn't make a smart business move that was legally available to them?

 

[tonni]

You Racist

A little bit yeah haha

 

[TheOneAboveAll3]

I'm sorry they didn't what?

Are you saying that both parties didn't write the bill or are you claiming the companies didn't make a smart business move that was legally available to them?

I wont argue that both parties were at fault but to me the republicans have control in the senate and has the backing of the president so I believe they are mostly to blame. Also who is the one who wanted no oversight into the program? Trump.